Namaste! Aaj ka news roundup, Newswala style!

MARKETS

Markets: India’s GDP has doubled in a decade, positioning the country to surpass Japan in 2025 and Germany by 2027. Meanwhile, the Sensex surged 3,000 points in a week, adding ₹22 lakh crore to investors’ wealth.

TOP STORIES

The Ultimate Comeback 👏

What Happened?

Remember 2018, when public sector banks (PSBs) in India were drowning in losses totalling a whopping ₹85,390 crore? Fast forward to the financial year 2023-24 (FY24), and it’s a completely different story. 

PSBs have not only bounced back but have also set new records, collectively raking in a net profit of ₹1.41 lakh crore. 

This remarkable turnaround has led to a 33% surge in dividend payouts, reaching ₹27,830 crore in FY24, up from ₹20,964 crore the previous year.

Why It Matters

Well, the government, holding significant stakes in these banks, received nearly 65% of the total dividends — a hefty ₹18,013 crore. 

This influx acts like a surprise bonus, potentially easing fiscal pressures or funding public projects. In short, it’s a win-win where public money makes its way back to the public (well, sort of).

A Deep Dive

Delving deeper, the State Bank of India (SBI) emerged as the star performer, contributing over 40% of the total PSB profits with a net profit of ₹61,077 crore—a 22% jump from the previous fiscal year’s ₹50,232 crore.

Other banks joined the profit parade too. 

• Punjab National Bank (PNB) saw a staggering 228% increase in net profit, reaching ₹8,245 crore. 
  
  

• Union Bank of India wasn’t far behind, with a 62% rise to ₹13,649 crore
  
   

• Central Bank of India reported a 61% boost, totalling ₹2,549 crore.

PAISON KA KHEL

EV Insurance Goes 16x in 3 Years! 📈

India’s EV insurance market is going full ‘’Bijli Bijli’! In a span of just 3 years, the demand has grown 16 times, says Policybazaar.

Delhi-NCR leads with an 18.3% share while Bengaluru trails with 16%. The trend is urban-based with Tier 1 cities taking 58% of the market leaving Tier 2 and 3 towns to split the leftover. 

The secret sauce turns out to be add-ons like Zero depreciation, battery cover, and roadside assistance. 

₹25,200 Crore Poured into Specialty Steel 🪙

Big bucks are rolling into India’s steel industry! In the second round of the PLI scheme for speciality steel, 35 companies have committed a whopping ₹25,200 crore.

The government is busy signing deals, with ₹3,600 crore in incentives set to be handed out.

The PLI scheme isn’t just about steel — it has pulled in ₹1.61 lakh crore across 14 sectors, creating ₹14 lakh crore worth of goods and 11.5 lakh jobs.

With numbers like these, India’s manufacturing game is heating up faster than a blast furnace!

GROWTH GULLY

🔍 Google Hides: 8 secret websites to supercharge your 2025 goals

✡️ Secret Rituals: The truth about Steve Jobs, Kim K and Bruce Lee very few people know

❓ Branding vs. Marketing: The difference you must know to excel at them

🏅 Leader Coach: 5 secrets that make leaders top coaches

🔑 Master Mind: 8 easy tricks for a better-disciplined brain

TOP STORIES

IT Giants Brace for a Bumpy Ride 😨

What Happened

The storm clouds over India’s top IT players — Infosys, Wipro, and TCS — aren’t clearing anytime soon. Analysts warn that FY26 might be another challenging year as US clients keep a tight grip on IT budgets. 

The warning bell was rung by global tech giant Accenture, which reported sluggish discretionary spending and delays in deal closures, particularly in the US.

Nothing New

This isn’t a new twist — FY25 wasn’t a blockbuster either. The Indian IT index is already down over 15% this year, with top firms seeing stock plunges between 11% and 18% since January.  

Why It Matters

The US is a major market for Indian IT, and a cautious client is like a miserly Santa — handing out fewer gifts and delaying the joy.

According to Citi Research, revenue growth is expected to crawl at 4% in FY26, matching FY25’s underwhelming performance.

A Sad Story

Even worse, big-ticket deals — the backbone of IT revenues — are on shaky ground. Adding fuel to the fire, early adoption of generative AI is acting as a short-term drag, as companies adjust to new delivery models.

GLOBAL NAZARA

The Lamborghini Fever Comes to India 🥵

Lambos aren't just for the movies and Ambanis - India’s young entrepreneurs are buying them in dozens. 

Over 100 units were sold in 2024, a 10%  rise from 2023 with prices between ₹4 crore to ₹8.89 crore. And here is the kicker: the supercars are sold out until 2027.

With India’s ultra-rich population (net worth over $30 million) set to jump by 50% by 2028, brands like Mercedes which sold 500 cars (a 145% rise) are also thriving.

Sinopec’s Profit Takes a Tumble  📉

China’s oil giant, Sinopec, reported a 16.8% dip in net profit for 2024, landing at 50.3 billion yuan ($6.94 billion). What went wrong? Falling oil prices and the growing love for new energy vehicles (NEVs).

Gasoline sales dropped 0.7%, diesel slid 4.8%, but aviation fuel sales soared 7.3% — so, at least someone’s flying high.

Sinopec also took a 7.2 billion yuan ($993.3M) hit on asset impairment. With 164.3 billion yuan set for investments, let’s hope 2025 brings sunnier skies (and pricier oil).

TOP STORIES

Will India’s Jewellery Export Drown in Tariffs?

What Happened?

The Indian gem and jewellery industry, which makes up 10% of the country’s total merchandise exports is bracing for potential US tariffs. 

With the US being its largest export market, accounting for nearly half of its business, any tariff could deliver a heavy blow. 

On the contrary, the GJPEC has announced plans to achieve $70 billion in exports by 2030, with $35 billion still to go. 

Why It Matters

Losing 50% of business from the US is no small dent. A fallback plan is essential to maintain growth. To offset this risk, the industry is exploring new markets like Latin America, Vietnam, and Saudi Arabia.

A prime example of this shift can be seen in the UAE.

Thanks to the Comprehensive Economic Partnership Agreement (CEPA), gold jewellery exports have risen by 60%, while diamond jewellery exports have grown by 17% over the last three years.

With a potential trade treaty with Australia on the horizon, there’s hope for more markets opening up.

The Numbers Game

February numbers weren't too shiny (dull tbh!)- exports slumped by 23.49 yoy dropping from $3.17 billion to $2.42 billion. Despite the slump, domestic growth held steady at 10% thanks to new organised players.  

MIRCH MASALA

✅ Sustainable: Bengaluru’s zero-cement house is breaking the internet

🧜 Mermaid Mystery: UK couple stumbles upon eerie skeleton on the beach

✨ Musk Magic: Elon’s brain chip has finally made mind-reading possible

💃 Anushka vs Disha: Fans decide their favourite after IPL 2025 opened

👀 Handshake Drama: Rinku Singh walks past Kohli, fans can’t keep calm!